Portland, OR, March 17, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the Digital Diabetes Management Market accounted for $3.37 billion in 2018 and is projected to portray $17.11 billion by 2026, growing at a CAGR of 22.5% from 2019 to 2026.
The rise in adoption of smartphones & tablets integrated with healthcare apps and surge in the diabetic population across the world have boosted the growth of the global digital diabetes management market. However, the lack of awareness regarding digital diabetes management in emerging economies and data privacy concerns among patients hamper the market growth. On the contrary, high potential for development offered by the emerging market is expected to create lucrative opportunities in the near future.
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The global digital diabetes market is segmented on the basis of type, product, and geography. On the basis of type, the market is divided into handheld devices and wearable devices. The wearable devices segment is expected to manifest the fastest CAGR of 23.9% during the forecast period. Moreover, the segment held the largest share in 2018, accounting for more than half of the market.
On the basis of product, the market is categorized into continuous blood glucose monitoring systems, smart glucose meter, smart insulin pumps, smart insulin pens and apps. The smart insulin pumps segment is expected to register the fastest CAGR of 24.3% during the forecast period. However, the continuous blood glucose monitoring systems segment held the largest share in 2018, accounting for more than two-fifths of the total revenue.
The global digital diabetes management market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to register the highest CAGR of 24.7% during the forecast period. This is due to increase in awareness regarding digital health and rise in number of patients with chronic illness. However, the market across North America held the largest share in 2018, accounting for two-fifths of the market.
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The global digital diabetes management market report includes an in-depth analysis of major market players such as Terumo corporation, ACON Laboratories, Inc., Becton, Abbott laboratories, Bayer AG, Dickinson and Company, F. Hoffmann-La Roche Ltd., Dexcom, Inc., Medtronic Plc., Johnson and Johnson, and Novo Nordisk A/S.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.